Whatever else may be happening in the economy the rest of this year, there is one bit of good news you’re likely to hear a lot about: a steadily improving employment picture. There are a few reasons for this. First, so many millions of Americans are still unemployed that, with wages stagnant the whole two years since the recovery, there is no where to go but up. Another positive factor is the domestic oil-and-gas boom due to fracking, which has dramatically lowered the cost of energy for our industries, giving U.S. manufacturing in particular a much-needed competitive boost.
There are surely other reasons, but don’t let anyone try to fool you into thinking that the Obama administration’s policies deserve any credit. There will be a lot more to say in the months ahead, but for now let’s highlight a few facts.
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